Gold Rises on Fears of Government Shutdown, Rate Cut Euphoria
The start of this week saw the price of gold surpass the $3,800 per ounce mark, a new high for the precious metal. Spot gold saw its price surge to $3,829.63 an ounce, representing a 1.9% increase in its price. Gold futures in the U.S. for December delivery ended the session at $3,855.20 an ounce, a 1.2% increase. At the same time, the dollar index slipped 0.2%, easing the cost of greenback-priced gold for foreign investors. These developments come as more investors seek refuge in the safe-haven asset due to additional anticipated U.S. rate cuts, escalating geopolitical risks and concerns…